1. Field of the Invention
The present invention generally relates to the field of appraisal and valuation of works of arts. More particularly, the present invention relates to the field of computer aided calculation, appraisal and valuation of works of art.
2. Description of the Prior Art
The following prior art references were uncovered in the pertinent art:
1. U.S. Pat. No. 4,191,472 issued to Mason on Mar. 4, 1980 for "Apparatus for the Evaluation of Coins" (hereafter the "Mason Patent"). PA1 2. U.S. Pat. No. 4,464,122 issued to Fuller et al. on Aug. 7, 1984 for "Health Potential Summary and Incentive System" (hereafter the "Fuller Patent"). PA1 3. U.S. Pat. No. 5,083,270 issued to Gross et al. on Jan. 21, 1992 for "Method and Apparatus for Releasing Value of An Asset" (hereafter the "Gross Patent"). PA1 4. U.S. Pat. No. 5,224,176 issued to Crain on Jun. 29, 1993 for "Automated Coin Grading System" (hereafter the "Crain Patent"). PA1 5. Japanese Patent No. 59-85,568 for "Information System of Used Car" (hereafter the "Japanese '568 Patent"). PA1 6. Japanese Patent No. 59-94,162 for "Electric Calculator for Estimate of Life Insurance" (hereafter the "Japanese '162 Patent"). PA1 7. Article "Taking The Risk Out Of Fire Risk Underwriting" published on AIWEEK, Feb. 15, 1989 (hereafter "the AIWEEK Article").
The Mason Patent discloses a method for evaluating coins on an objective basis. First, facsimile coins representing the obverse and reverse sides of a given class of coins are displayed. The facsimile coins are divided into multiple sets, each representing a particular type of coin defect or imperfection. The facsimile coins within a set are arranged according to the increasing or decreasing extent of the coin defect or imperfection. Each facsimile coin is assigned a number representative of the relative value of the coin with such defect or imperfection. To evaluate the value of a real coin, the obverse and reverse sides of the real coin is compared to the facsimile coins. The numeric values of the facsimile coin which exhibits the coin defect or imperfection to the same extent as the real coin are recorded and calculated. The result is used to determine the monetary value of the real coin by referring to a correlation table.
The Fuller Patent discloses a method of evaluating an individual's health. The method utilizes a comprehensive questionnaire. The questionnaire is divided into different categories each having multiple questions to be answered by the individual. The answers are placed in score boxes. The actual condition of the individual is then compared to the ideal condition of each category to provide a health rating of the individual. Finally, the analysis provides an "appraised age" of the individual according to the health rating of the individual.
The Gross Patent discloses a computer aided data processing program. The program is used for recording and updating the value of mortgaged assets.
The Crain Patent discloses an automated coin grading system. The system first utilizes a set of criteria established by professional and expert human graders. The different features of the coins are assigned point scores based on various parameters. These point scores are then used for calculating the subgrades and finally the final grade.
The Japanese '568 Patent discloses a used car information exchange system. The system records seller's data concerning the information of the car for sale as well as buyer's information concerning the desired car. The available for sale and the buyer's demand are then compared and the closest match is sent to the buyer.
The Japanese '162 Patent discloses an apparatus for estimating life insurance premiums. The device will process information such as the length of lives of the insured's family members and calculate the age expectancy of the insured, to determine the life insurance premium.
The AIWEEK Article reported a computer program for fire risk underwriting. The program utilizes a menu-based system that prompts inputs by the user, and then evaluates various fire risk factors in calculating the premium.
It is desirable to have a comprehensive method for computer aided calculation, appraisal and valuation of works of arts.